Briefing
The latest from across luxury business: the moves, deals and numbers that matter, gathered as they break.
This briefing is published daily using an AI-powered system crafted by Worthbury's team and finely tuned to meet our editorial standards. While we continuously test and review the output, mistakes can sometimes happen. Tell us if you spot one.
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Russian strikes on Kyiv-area warehouses hit Puma and Intertop supply
Warehouse destruction near Kyiv threatens weeks-to-months of product shortages for Puma and its Ukrainian retail partner Intertop.
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Abercrombie & Fitch seeks China investor to reset its market strategy
The American retailer, valued at several hundred million dollars for the venture, wants a local partner to navigate a market that has proven difficult for foreign apparel brands.
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Diageo unveils $1bn savings drive as profits slide under new chief
Sir Dave Lewis's first major move as chief executive is a three-year efficiency programme, not the acquisitions or disposals investors had speculated about.
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Ralph Lauren posts 14% revenue growth, beating expectations in Asia and North America
The group's first quarter of its 2027 financial year shows broad-based strength that outpaces much of the luxury sector's recent slowdown.
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Partners Group enters exclusive talks for Aroma-Zone as Eurazeo weighs exit
The Swiss private equity firm is closing in on the French natural beauty retailer, with Eurazeo potentially selling its stake and reinvesting.
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Louis Vuitton targets 2027 for Champs-Élysées mega-project
Louis Vuitton chief executive Pietro Beccari has confirmed the brand is working toward a 2027 opening for its large-scale flagship complex on the Champs-Élysées in Paris.
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Aramex posts record quarterly revenue despite Gulf disruption
Dubai-based courier Aramex returned to profit with its highest quarterly revenue on record, even as the Iran war and Strait of Hormuz disruption weighed on regional trade.
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Pandora names new CFO as Hugo Boss recruits design chief for Beckham line
Pandora has appointed a new chief financial officer to succeed Anders Boyer from October, while Hugo Boss has hired Daniel Kearns to lead design for its Boss by Beckham collaboration.
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E.l.f. Beauty raises outlook as Rhode's DTC debut stuns
Hailey Bieber's Rhode brand generated $27 million in direct-to-consumer sales in a single day, helping push E.l.f. Beauty's quarterly sales up 36% and prompting an upgraded financial outlook.
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California's wealthy are buying New Zealand golden visas as a hedge
Applications for New Zealand's investor residency scheme have risen since rules were eased, with wealthy Americans among those seeking a fallback option abroad.
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Rhode's $27 million day signals the ceiling for celebrity beauty is still rising
Hailey Bieber's brand posted a record single-day direct-to-consumer haul and is now plotting expansion into 19 new countries.
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As private equity retreats from fashion, licensing groups become the buyers of last resort
With traditional buyout firms pulling back from apparel and accessories deals, brand management companies that license out labels for royalties are stepping up acquisitions.
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Jimmy Choo lifts Capri as Michael Kors keeps dragging
Capri Holdings reported margin and profit gains even as total revenue slipped, with Jimmy Choo's growth failing to offset continued weakness at its larger Michael Kors label.
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Chanel outpaces luxury rivals with 16% sales growth
Wealthy shoppers kept buying into Matthieu Blazy's early tenure as Chanel posted double-digit growth that outstripped larger competitors including LVMH.
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Shanghai's luxury mall rivalry moves beyond tenants to experience
Swire Properties and Hang Lung Properties are competing on destination-driven experiences rather than tenant rosters alone as they vie for affluent shoppers on West Nanjing Road.
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L Catterton sells Thorne to P&G in $3.8 billion deal
The LVMH-backed private equity firm exits the supplements brand it backed in 2023, handing Procter & Gamble a foothold in the fast-growing wellness category.
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Chanel posts double-digit growth as it retains top spot in brand rankings
A Bloomberg report of strong first-half revenue growth at the privately held house coincides with Chanel again topping Lyst's ranking of the hottest fashion brands.
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Capri Holdings cuts outlook despite stronger first quarter
The Michael Kors and Jimmy Choo owner beat expectations for the quarter just gone but warned that inventory pressures and Middle East disruption will weigh on the rest of its fiscal year.
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Nykaa takes majority stake in premium skincare brand Aminu
The Indian beauty retailer's acquisition signals continued consolidation of its house-of-brands strategy in the fast-growing premium skincare segment.
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P&G buys Thorne for $3.8 billion, doubling down on premium wellness
The deal gives Procter & Gamble a credible foothold in supplements and personalised health as mass-market beauty and household names look to premium wellness for growth.